The HD7750 GDDR5 seems to beat the pre-overclocked GT640 DDR3 version tested:
http://translate.googleusercontent.c...7SXJX97g#para8
The card also has turbo boost too. The base clockspeed is 902MHZ,although the Galaxy GT640 tested has a 100MHZ overclock but uses DDR3. Power consumption of the pre-overclocked card and the HD7750 looks similar. It will be interesting to see how much faster a GDDR5 version would be,when tested,although power consumption might be higher than the equivalent DDR3/GDDR3 cards.
It seems the GK107 is slightly bigger(130MM2) than the Cape Verde GPU(123MM2) found in the HD7750(800MHZ core clock in the card tested) and HD7770. I suspect especially with the HD7750 getting a bump in clockspeed from 800MHZ to 900MHZ now,it should be quite competitive still with the GDDR5 version of the GT640.
OTH,pricing is the other important factor too.
Edit!!
Official figures seem to indicate that the GPU is 118MM2 and has 1.3 billion transistors.